RBC US Dollar Visa Gold credit card review
- Welcome Offer
- N/A
- Rewards
- Up to 1 point per $1 spent
- Annual Fee
- $65
- Purchase Interest Rate
- 20.99%
- Cash Advance Rate
- 22.99%
Summary
Earn points and save on sneaky foreign exchange fees with the RBC US Dollar Visa Gold cardCanadian residents made over 44 million trips to the United States in 2018, a truly astounding number for a country of just 38 million people. The two countries share a lot of similarities, but the currency is not one of them. Rather than pay daily conversion fees on your purchases while in America, a US dollar credit card makes it a lot easier to transact with merchants south of the border. The RBC US Dollar Visa Gold card offers a convenient way to pay with US dollars without having to worry about daily conversion rates.
Find out if the RBC US Dollar Visa Gold card is for you.
30-second take
- Consider getting this card if you make frequent trips to the United States and want to avoid daily currency fluctuations.
- Consider something else if your only interaction with American merchants is through websites like Amazon or eBay.
- You must be a Canadian resident and the age of majority in your province to apply for the card.
The basics
If you’re a frequent traveller to the United States, the RBC US Dollar Visa Gold could be your ticket to savings. Rather than spend your Canadian dollars while in America, this RBC US Dollar Visa Gold card lets you make all your transactions in US funds, allowing you to avoid volatile currency fluctuations.
An extensive suite of insurance products is also included with the card as is automatic enrolment in RBC Rewards, which lets you earn points on qualified purchases. The RBC US Dollar Visa Gold card also offers higher credit limits, although this depends on several factors like credit score and annual income.
The perks
- Don’t worry about conversion fees. The RBC US Dollar Visa Gold card lets you purchase goods and services directly in US dollars, so you’ll never have to worry about expensive conversion fees while shopping.
- Earn points. This card lets you earn 1 RBC Rewards point for every dollar you spend on qualified purchases. You can then redeem the points for gift cards, merchandise, travel and other rewards
- Insurance coverage. RBC offers extensive insurance coverage with this card – trip cancellation, car rental and emergency purchases are all covered.
- Instant fuel savings. By linking your card to Petro-Canada, you can save 3 cents per litre on fuel and earn 20% more Petro-Points
What to watch for
- High interest rates. Carrying a balance on this card will end up costing you. Be prepared to pay 20.99% interest on purchases and 22.99% on cash advances.
- Fees. The RBC US Dollar Visa Gold card comes with a US$65 annual fee for primary cardholders and a US$30 annual fee for each additional card.
- You still need to convert Canadian dollars. Unless you are paid in US dollars, you’ll still have to convert Canadian dollars to pay your monthly credit card bill.
RBC US Dollar Visa Gold interest rates
| Interest Type | Interest Rate |
|---|---|
| Purchase interest rate | 20.99% |
| Cash advance rate | 22.99% |
What should I know before I apply
How to apply
- Visit the RBC US Dollar Visa Gold webpage.
- Click “Apply Now.”
- Fill out the standard credit card application, which should take five minutes to complete.
The bottom line
The RBC US Dollar Visa Gold was designed for frequent travel to the United States. If you spend a lot of time south of the border, this card can help you avoid the uncertainty associated with daily conversion rates. It also lets you rack up reward points for every dollar you spend. Just keep in mind that unless you have a dedicated USD account with your bank, you’ll still need to convert Canadian dollars into US dollars every time you pay your credit card bill.
